A trade group representing card networks and issuers is taking aim at restaurant surcharges and price increases by large grocers as part of its efforts to defeat the Credit Card Competition Act. The Electronic Payments Coalition’s first salvo in its new campaign against the CCCA was fired last week. In …

Fraud is nothing if not a persistent part of the payments landscape. It became more so in the past 12 months, as 60% of e-commerce merchants and 53% of retailers sustained increases in overall fraud levels, finds LexisNexis Risk Solutions in the 14th edition of its “LexisNexis True Cost of …

U.S. retail sales, excluding automotive products, grew 3.1% year-over-year in the Nov. 1 through Dec. 24 period, according to Mastercard Inc.’s SpendingPulse. The result is not adjusted for inflation. Standouts were e-commerce sales, up 6.3%, and restaurants, at 7.8%. The worst performer was jewelry, at negative 2%. Blockchain operator Paxos said it will …

The United States accounts for 57% of retailers that reported a breach this year, according to Trustwave’s “2023 Retail Threat Landscape: Trustwave Threat Intelligence Briefing and Mitigation Strategies” report. The United Kingdom (8%) and Canada (7%) are a distant second and third. In related news, Riskified Ltd., a provider of technology …

More than four years after it began testing its own blockchain-based stablecoin, JPMorgan Chase & Co. is processing $1 billion in transaction volume per day for JPM Coin, Takis Georgakopoulos, JPMorgan’s global head of payments, told Bloomberg News during an interview. Created in 2019 and launched in 2020, JPM Coin …